The Macon Fire and Police Employees Retirement Pension Board could decide next month on a consultant for the $220 million portfolio.
On Sept. 2, the board will have a second round of interviews with two finalists that were selected from a group of six. The Macon fire and police pension will likely have a new firm take over after the board did not select Independent Portfolio Consultants, also known as IPC, to come back for another interview.
Macon-Bibb County Commissioner Larry Schlesinger, a board member, said he expects a consultant to be selected by the pension board Sept. 2.
The two remaining firms -- Orlando, Florida-based Bogdahn Group and Raymond James, which has a Macon branch -- received the highest scores from the board following Aug. 13 interviews. Board members decided at a special called Aug. 19 meeting to invite them back for more information.
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“We like the local flavor of Raymond James with having someone in town who could serve the account,” Schlesinger said. “On the other hand, all Bogdahn does is government accounts like us. That’s pretty impressive as well.”
Pension board member Gary Bechtel, who also is a Macon-Bibb commissioner, said the next interviews will delve into everything from how each of the firms would handle the transition as well as its philosophy on managing portfolios.
The goal is a 7.5 percent annual return on the pension, Bechtel said.
IPC was appointed in 2014 to manage investments for the Macon-Bibb active pension plan, one of three different pension plans in local government. The firm was able to maintain the role after Mayor Robert Reichert vetoed an attempt by commissioners to rebid the plan. Bechtel and Schlesinger have said they wanted a rebid after not being made aware that County Manager Dale Walker had a prior working relationship with an IPC senior consultant.
IPC reported the three Macon-Bibb pension plans together earned nearly $10 million in the first quarter the firm managed them.
To contact writer Stanley Dunlap, call 744-4623.